Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Apple Downgraded by Jefferies Amid Weak iPhone Sales and AI Concerns 
FxWirePro- Major Crypto levels and bias summary 
Do investment tax breaks work? A new study finds the evidence is ‘mixed at best’ 
Reliance Industries Surges on Strong Quarterly Profit, Retail Recovery 
Ferrari Group to Launch IPO in Amsterdam, Targets Over $1 Billion Valuation 
Tempus AI Stock Soars 18% After Pelosi's Investment Disclosure 
Why your retirement fund might soon include cryptocurrency 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Elliott Investment Management Takes Significant Stake in BP to Push for Value Growth 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
UK Markets Face Rising Volatility as Hedge Funds Target Pound and Gilts 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Insignia Financial Shares Hit 3-Year High Amid Bain and CC Capital Bidding War 
Itau Unibanco launched its Bitcoin (BTC) and Ether (ETH) trading services in Brazil. The Brazilian bank ultimately made its mark in the crypto space in the country with its new offerings for the locals who are into cryptocurrency.
CoinTelegraph reported that Itau Unibanco is the largest bank in the region based on assets and is considered one of the leading lenders in Latin America. It is now expanding its services further to add crypto trading with BTC and ETH, so it is likely to attract new customers and take the lead in this side of business in Brazil.
Future Plans for Cryptocurrency Business
José Augusto de A. Antunes Filho, the head of digital assets at Itau Unibanco, reportedly said that they also have plans to add more cryptocurrencies in the future and expand the crypto trading offerings. The bank will provide good service to users by combining innovation and security and complying with all the necessary regulations.
Moreover, the Brazilian bank is introducing a crypto trading service for its clients as part of its investment program. As it rolls out the new offering, the bank will serve as the cryptocurrency custodian for the crypto trading service. This means that Itau Unibanco will securely store crypto assets for its customers.
Then again, Antunes said that initially, bank customers would not be able to deposit and withdraw crypto assets using external crypto wallets. “The most important thing is that when you keep your money in the bank account, you will have the guarantee of Itau’s balance sheet as security for the amounts invested,” he said.
Initial Focus of Itau Unibanco’s Crypto Services
According to CoinGape, as the bank just debuted the service, it will focus on a few services first, and these are crypto trading for Bitcoin and Ether, which are two of the most well-known digital currencies. More services related to blockchain are set to be added later.
Aside from crypto trading, Itau Unibanco will also venture into custodian to keep the customers’ digital assets safe. Finally, these offerings make the bank better than the other players in the market.
